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Thursday, 25 May 2017

MIDEAST STOCKS-Qatar's Ezdan tumbles on initial plan to de-list, DXBE weighs on Dubai again | Reuters

MIDEAST STOCKS-Qatar's Ezdan tumbles on initial plan to de-list, DXBE weighs on Dubai again | Reuters:

"Shares of Qatar's largest listed real estate developer tumbled in early trade on Thursday after saying its shareholders had given preliminary approval to take the company private while DXB Entertainments continued to drag Dubai's index down. Ezdan Holding Group, which is owned mainly by government related parties, dropped 7.3 percent. The company said that disapproving shareholders, whether present or absent from the meeting, can exit their positions within 60 days of the preliminary decision. The company, which is a constituent of the MSCI emerging market index, said it had hired a company to reach a fair valuation of its assets, based on the closing price on April 3, which was 15.08 riyals. It will announce the result once the valuation process has been completed."



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